Palm Beach’s $137M Il Palmetto Estate by Iconic Architect Maurice Fatio Is Off The Market

It appears that Il Palmetto, one of Palm Beach’s biggest historic estates, which was listed for a whopping $137 million by billionaire Jim Clark, has been taken off the market for the time being.

Although the listing for 1500 South Ocean Boulevard has been removed from the MLS and the rambling estate remains unsold according to Palm Beach County property records, it still appears on the site of its broker Christina Condon of Sotheby’s International Realty. One suspects that means she’s not off the job, and perhaps just giving it a breather during the slow summer season. That way when it pops back on the official market in the fall, it won’t carry the stigma of having sat around unsold for an unseemly amount of time.

Stigma or not, however, it’s an extremely expensive stunner by one of Palm Beach’s most iconic architects, the great Maurice Fatio. The broker’s yadda yadda yadda describes Il Palmetto in detail:

When architect Maurice Fatio was commissioned to build ‘Il Palmetto’ in 1930, the 5.46± acre Ocean-to-Lake estate was declared exceptional. Years later, Fairfax and Sammons oversaw a 4 year meticulous restoration of the Italian Renaissance-style palazzo, Il Palmetto’s architectural detail was maintained. The result is an estate without peer in Palm Beach.

The main residence is designed as a series of pavilions connected by cloisters, beginning with the 2 story entrance hall. The pièce de résistance is the living room with a shield-decorated ceiling and architecturally framed sunset view over Lake Worth. The formal dining room with a 16th Century carved ceiling accommodates elegant dinner parties. The main level is completed by the chef’s kitchen featuring custom appliances, butler’s pantry, family room, theater, billiards room, library, office and pavilion, all circling a courtyard and fountain.

An outdoor loggia connects the inner courtyard to a large swimming pool lined with dark blue tiles. The master bedroom suite and 3 guest bedrooms are on the second level. A 20,000-bottle carved limestone wine cellar, exercise room and spa, second wine cellar for 1,000 additional crates plus the Moroccan room offering exquisite indoor/outdoor entertaining are on the ground level. The main house features 2 elevators and 3 additional bedrooms in staff quarters.

The interiors have a unique lightness and grace creating a serene atmosphere. The property features hurricane-proof, bronze impact windows and doors and hidden modern-day technological systems controllable via smart phone. A private underground tunnel below A1A leads to a 2 bedroom, 3 bath beach house featuring a kitchen and sitting room framing an infinity-edge swimming pool that blends into the turquoise waters of the Atlantic. A seawall affords protection and stairs for beach access. The lakefront boat house is equipped with 2 state-of-the-art motorized boat launches, with a 2 bedroom, 2 bath guest apartment above.

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